Oracle Sales Top Expectations Against Uncertain Economic Backdrop

Oracle sales rose in the latest quarter, soothing concerns about the business-software giant’s outlook against a backdrop of economic uncertainty affecting technology companies.

The Austin, Texas-based company said companywide revenue was up 5% to $11.84 billion in its fiscal fourth quarter, while total cloud revenue grew 19% from a year earlier to $2.9 billion. Analysts polled by FactSet expected $11.61 billion in total revenue.